Compensation from defined benefit pension scheme

S

Springflower

Registered User
Messages
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I am looking for advice with regards compensation from a defined benefit pension scheme.
I am being compensated €35,000.00. I have the option to put it into avcs.
I already contribute €300.00 per month to avcs and will continue to do so into the new pension scheme.
My question is should I put all of it into avcs or take some money so I have some cash liquidity? I am 44 years old and have worked with the company for the past 11 years.
 
What are you being compensated for?

Generally, if you are getting a benefit from a pension, it has to stay in the pension bubble and you can't take it out of the pension, so I'm not sure you have a choice.

Could you provide more details?


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
There is a company take over. New company are not willing to continue with the defined benefit scheme in place this is the compensation for the above.
I do have the option have it in writting in many emails.
 
Are to switching to a DC fund where you have to contribute X and they contribute Y? Is the €35k an enhanced transfer value?
 
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